These are proposed bounty projects, similar to http://gnome.org/bounties/
or the Ghostscript bug bounty program.
We don't have the same level of funding but could start a pot with $10-$100 and
let people contribute to specific bounties through paypal.

There are two steps here. Simple coupling and lowpass for the .1 channel, and a full set of tuned modes.
They should be separate bounties.

Xiph Quicktime Plugin

You have to write a Quicktime Plugin for the Ogg container and the Xiph Codec Family.
qtcomponents provides support for Ogg Vorbis and MNG. This could be used as start.
Xiph Quicktime Plugin has to support endocding/decoding for:

Ogg Media container

Support for Chained Ogg Streams

Support for Icecast Streams (sending is optional)

Support for Xiph Codec Family: Vorbis, Theora, FLAC, Speex, Writ

iTunes encoding support

Encoding support in Apple's iTunes program for Vorbis and FLAC. Speex optional.

FLAC support in libfishsound

libfishsound currently only supports Ogg Vorbis and Ogg Speex
to make it support all Xiph audio codecs you have to add FLAC support.